Gabelli Funds LLC Has $39.08 Million Stake in Royal Gold, Inc. (NASDAQ:RGLD)

Gabelli Funds LLC increased its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 296,400 shares of the basic materials company's stock after purchasing an additional 10,300 shares during the period. Gabelli Funds LLC owned approximately 0.45% of Royal Gold worth $39,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Royal Gold in the fourth quarter valued at $44,009,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Royal Gold by 181.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 302,206 shares of the basic materials company's stock worth $39,846,000 after buying an additional 194,905 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Royal Gold in the 4th quarter valued at about $18,427,000. Distillate Capital Partners LLC acquired a new stake in shares of Royal Gold in the fourth quarter valued at about $15,258,000. Finally, Raymond James Financial Inc. bought a new stake in Royal Gold during the fourth quarter worth about $11,998,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Royal Gold news, SVP Randy Shefman sold 1,300 shares of Royal Gold stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $154.98, for a total value of $201,474.00. Following the completion of the sale, the senior vice president now owns 9,360 shares in the company, valued at $1,450,612.80. The trade was a 12.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RGLD has been the topic of several recent analyst reports. Royal Bank of Canada lowered their price target on Royal Gold from $175.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Scotiabank upgraded shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the stock from $166.00 to $189.00 in a report on Monday, April 14th. Raymond James increased their price target on shares of Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. BMO Capital Markets initiated coverage on shares of Royal Gold in a research report on Wednesday. They issued a "market perform" rating and a $196.00 price objective for the company. Finally, Jefferies Financial Group upgraded shares of Royal Gold from a "hold" rating to a "buy" rating and raised their target price for the company from $154.00 to $178.00 in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Royal Gold presently has an average rating of "Moderate Buy" and a consensus price target of $178.00.

Royal Gold Stock Performance

RGLD traded down $1.55 on Friday, reaching $184.90. The company had a trading volume of 566,791 shares, compared to its average volume of 402,639. The stock has a market cap of $12.17 billion, a P/E ratio of 36.69, a P/E/G ratio of 3.42 and a beta of 0.77. Royal Gold, Inc. has a fifty-two week low of $118.00 and a fifty-two week high of $191.22. The company's fifty day moving average is $158.36 and its 200 day moving average is $147.98.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.46 by $0.17. Royal Gold had a return on equity of 11.46% and a net margin of 46.15%. On average, sell-side analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, April 4th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, April 4th. Royal Gold's payout ratio is 35.71%.

Royal Gold Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.